Truist Financial Co. (NYSE:TFC) Position Lowered by Stephens Inc. AR

Stephens Inc. AR reduced its position in Truist Financial Co. (NYSE:TFC) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,998 shares of the insurance provider’s stock after selling 5,946 shares during the quarter. Stephens Inc. AR’s holdings in Truist Financial were worth $5,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter worth $31,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the second quarter worth $38,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5 %

Shares of TFC stock opened at $42.82 on Friday. Truist Financial Co. has a 1 year low of $28.84 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average is $42.84 and its 200-day moving average is $40.69. The stock has a market cap of $57.34 billion, a PE ratio of -29.94, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analysts Set New Price Targets

TFC has been the subject of several research reports. Bank of America lifted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group cut their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $46.02.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.